There is major buzz around Litecoin (LTC) since the release of their LitePay real world use system. The faster, lighter version of the Bitcoin blockchain has been making gains against the legacy giant since last year’s original announcement. Now that LitePay is a reality, and LitePal is deep into development, we are looking at a unique scenario.
If current trends continue, Litecoin may well make ground against the other top 5 cryptocurrencies and move up on the ladder. While word is out about the LitePay system, recent cryptocurrency market trends have kept the price of Litecoin suppressed – along with the price of most other currencies. Reentry into a bull market will create some interesting shifts in dominance.
The Advantages of Litecoin over Bitcoin
Litecoin is a complete reworking of the Bitcoin code base. The time to block generation was altered, shortened and made more difficult. This creates faster blocks with the same computing power, resulting in rapid transactions, lower fees and higher volume of coins produced. The intention was to solve Bitcoin’s ponderous, limited blockchain and create a currency that could go beyond the original blockchain. By all measures, this experiment has been a success and Litecoin enjoys a solid spot in the top 5 cryptocurrencies by market cap.
Bitcoin is increasingly viewed as a store of value asset, similar to gold. The high price and realistically limited quantity make it an attractive long term hold. It remains to be seen if we will recover to late 2017 prices, but by all historical metrics, we should see the value continue to expand with market cap and public adoption. Litecoin has been touted as the silver to Bitcoin’s gold, more affordable while still holding value and usability in a real world context.
How LitePay Bridges the Digital Crypto Divide
Perhaps the most exciting aspect of Litecoin is the recent release of the LitePay system. Although all functions are not yet available, the LitePay platform allows users to pay directly using the currency in any location. Unfortunately, a recent credit card company related issue with the crypto sphere has delayed full implementation. Once these problems are cleared up, as they inevitably will be, Litecoin will become the currency of choice for ease of use in the real world.
Article By: Adam Stone
